Showing posts with label US Federal Reserve. Show all posts
Showing posts with label US Federal Reserve. Show all posts
July 04, 2024
Central Bank Independence Is a Myth. They Need to Be Democratized.
September 18, 2015
Fragen und Antworten: Warum die Fed nicht am Geldhahn dreht
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| Fed-Chefin Janet Yellen |
Die Zinswende in den USA bleibt vorerst aus. Noch scheuen sich die Geldpolitiker um Fed-Chefin Janet Yellen, erstmals seit Jahren wieder am Geldhahn zu drehen. Allerdings könnte die US-Notenbank noch in diesem Jahr handeln - und damit auch die Konjunktur im Euroraum anschieben. Seit Ende 2008 liegen die Zinsen in den USA, zu dem Banken Zentralbankgeld leihen können, auf dem Tief zwischen 0 und 0,25 Prozent. » | APA/dpa | Freitag, 18. September 2015
Die US-Notenbank sendet das falsche Signal
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| Fed-Chefin Janet Yellen beantwortet die Fragen der Journalisten nach der Leitzins-Entscheidung. |
Die Entscheidung ist also noch einmal vertagt, die US-Notenbank belässt ihren Leitzins vorerst bei null. Zu groß war offenbar die Furcht der Währungshüter, dass die erste Straffung der Geldpolitik seit neun Jahren die Konjunktur abwürgen, Chaos an den Finanzmärkten auslösen und viele Schwellenländer in die Krise stürzen könnte.
So berechtigt die Sorgen sind: Der Beschluss der Fed ist falsch. Die US-Wirtschaft wächst robust, die Arbeitslosigkeit ist kräftig gesunken. Gleichzeitig könnte die Inflationsrate bei einem parallelen Anstieg von Löhnen und Energiepreisen rasch zum Problem werden. Wann, wenn nicht jetzt, will die Notenbank damit beginnen, das unnatürliche Zinsniveau der letzten Jahre hinter sich zu lassen und zu normaleren Sätzen zurückzukehren? » | Ein Kommentar von Claus Hulverscheidt | Donnerstag, 17. September 2015
October 29, 2014
US Federal Reserve to End Quantitative Easing Programme
The US Federal Reserve has called time on its $4.5 trillion (£2.8tn) quantitative easing programme, introduced more than five years ago to steer the world’s largest economy through the financial crisis.
The central bank, led by Janet Yellen, said it would cease buying bonds this month. » | Angela Monaghan | Wednesday, October 29, 2014
September 21, 2009
THE TELEGRAPH: The sun is setting on the US dollar as the ultra-loose monetary policy of the US Federal Reserve forces China and the vibrant economies of the emerging world to forge a new global currency order, according to a new report by HSBC.
"The dollar looks awfully like sterling after the First World War," said David Bloom, the bank's currency chief.
"The whole picture of risk-reward for emerging market currencies has changed. It is not so much that they have risen to our standards, it is that we have fallen to theirs. It used to be that sovereign risk was mainly an emerging market issue but the events of the last year have shown that this is no longer the case. Look at the UK – debt is racing up to 100pc of GDP," he said[.]
Crucially, China and rising Asia have reached the point where they can no longer keep holding down their currencies to boost exports because this is causing mayhem to their own economies, stoking asset bubbles. Asia's "mercantilist mindset" of recent decades is about to be broken by the spectre of an inflation spiral.
The policy headache was already becoming clear in the final phase of the global credit boom but the financial crisis temporarily masked the effect. The pressures will return with a vengeance as these countries roar back to life, leaving the US and other laggards of the old world far behind.
A monetary policy of near zero rates – further juiced by quantitative easing – is completely incompatible with circumstances in most of Asia, the Middle East, Latin America, and Africa. Divorce is inevitable. The US is expected to hold rates near zero through 2010 to tackle its own crisis. >>> Ambrose Evans-Pritchard | Sunday, September 20, 2009
September 18, 2008
THE TELEGRAPH: The Federal Reserve has spearheaded the pumping of hundreds of billions of dollars into financial markets as central banks battle the deepening credit crisis.
The co-ordinated move by central banks including the Bank of England and the European Central Bank is designed to unfreeze lending in dollars, which has collapsed since the demise of Lehman Brothers.
At the moment, banks are having to pay the most since 1999 to borrow dollars for three months on fears another lender will fail. Federal Reserve Spearheads $180bn Injection into Markets >>> By Telegraph Staff | September 18, 2008
WELT ONLINE:
Finanzkrise: Angst beherrscht Börsen – Anleger flüchten in Gold: Börsen krachen zusammen oder lassen ihre Türen gleich ganz geschlossen, milliardenschwere Banken werden zu Spottpreisen übernommen oder verstaatlicht. Das Ausmaß der Finanzkrise ist noch nicht abzusehen, aber die Schockwellen sind längst bei uns angekommen. Und Gold ist wieder ein großes Thema. >>> 18. September 2008
WELT ONLINE:
Analyse: Märkte in der verheerenden Abwärtsspirale: An den Märkten herrscht Panik, Rettungsaktionen des Staates verpuffen. Selbst gesunde Banken drohen umzukippen. Wenn sich die Stimmung nicht dreht, wächst die Gefahr einer Weltwirtschaftskrise. Es bleibt gerade nur ein Trost: Politiker und Notenbanker haben den Ernst der Lage erkannt. >>> Von Jörg Eigendorf | 18. September 2008
SPIEGELONLINE INTERNATIONAL:
US Financial Crisis: 'The World As We Know It Is Going Under': Panic is the word of the hour on Wall Street. Now even Morgan Stanley is fighting for survival. The commercial bank Wachovia and China's Bank Citic are being discussed as possible rescuers. The crisis has led President Bush to cancel a trip. >>> By Marc Pitzke in New York | September 18, 2008
BBC:
Central Bank Moves Cheer Markets: Markets regained some poise in Thursday trading, cheered by news that six of the world's top central banks have taken steps to calm credit markets.
The banks will release $180bn (£99bn) to lift the amount of credit available. >>> | September 18, 2008
THE TELEGRAPH:
Credit Crisis Affects Wives: For Richer, for Poorer?: The domestic repercussions of the financial crisis have already hit home. Just ask the City wives >>> By Judith Woods | September 17, 2008
The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
The Dawning of a New Dark Age – Hardcover (US) Barnes & Noble >>>
June 26, 2008
SPIEGELONLINE INTERNATIONAL: Humiliation for Mr. Dollar: Ben Bernanke, the chairman of the United States Federal Reserve Bank, faces a general investigation by the International Monetary Fund. Just one more example of the Fed losing its power.
The United States Federal Reserve Bank, or Fed, seems as much a part of America as Coca-Cola or Pizza Hut. But at least one difference has become apparent in recent days. While the pizza chain and soft-drink maker are likely to expand their scope of influence in the age of globalization, the US central bank is finding that its power is shrinking.
No Fed chief in US history has been forced to submit to the kind of humiliation that Ben Bernanke is facing. The Shrinking Influence of the US Federal Reserve >>> By Gabor Steingart in Washington | June 26, 2008
The Dawning of a New Dark Age – Dust Jacket Hardcover, direct from the publishers (US) >>>
The Dawning of a New Dark Age – Paperback, direct from the publishers (US) >>>
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